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    The Largest CRE Database in the US with Over 1 Million Listings

    110 Gulfview Dr Islamorada, FL 33036

    Sponsored
    For Sale
    $3,524,000

    Multi-family - Lower Matecumbe, FL

    Type:Multi Family
    Property size:
    3,524 SF
    Days on Market:
    3
    Last Refresh:
    Feb 18 at 4:06 am

    Property Features for 110 Gulfview Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Multi Family
    Standard status
    Active
    Zoning
    R1 - Residential Single Family
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    7
    Bathrooms
    4
    Parking features
    Open
    Interior features
    Drapes/Blinds Incl, Smoke Alarms, Quartz Countertops, Walk-in Closet(s)
    Exterior features
    Fencing, Outdoor Shower, Rain Gutters
    Fencing
    Fenced
    Appliances
    Dishwasher, Dryer, Garbage Disposer, Microwave, Range, Refrigerator, Washer
    Size
    3,524 SF

    Taxes and HOA fees

    Expense value
    600
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Annually

    Utilities

    Cooling system
    Ceiling Fan(s)
    Water front features
    Canal Front, Waterfront
    Water front
    1

    Building Details

    Year built
    1999
    Floors in Building
    2
    Flooring type
    Tile
    Building materials
    Concrete
    Roof type
    Concrete
    Architectural style
    Other

    We can help!

    Listing Contact
    Karen V. Jenkins

    EXP REALTY LLC (888) 883-8509

    Listing agent Karen V. Jenkins (888) 883-8509 License #3395009

    Listing date Feb 16, 2026

    MLS# 618670 Listing URL

    Copyright © 2026 Florida Keys Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Waterfront Compound with Income Potential

    This canal-front luxury family compound in the White Marlin Beach community offers multi-family autonomy and income performance. The property features two autonomous 2-bedroom, 1-bathroom residences upstairs and a separate 3-bedroom, 2-bathroom finished, air-conditioned area downstairs, providing privacy and flexibility. In total, the compound offers 7 bedrooms and 4 bathrooms. When fully rented, it can generate over $16,000 per month in rental income. The zoning and multiple building rights support future expansion or redevelopment. Outdoors, there is a waterfront setting with a private pool, expansive concrete sun deck, outdoor shower, and 70-foot concrete dock with fish-cleaning station, situated on a 6-foot control-depth canal with access to bay and ocean waters. Interior finishes include updated kitchens with quartz countertops and stainless appliances, spa-inspired baths with glass-enclosed showers, large-format tile flooring, recessed lighting, and turnkey furnishings. Multiple balconies and patios capture breezes and water views. The property has private gated access to White Marlin Beach, and is located close to grocery stores, marinas, restaurants, and bike paths. The property size is 3,524 square feet. It can be internally converted to a 3,524 sq ft primary home without structural changes, while retaining a Waterfront Transferable Development Right (TDR/TBR) in Islamorada.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Real Estate Agency Restaurant Law Firm Auto Repair Shop Big Box & Wholesale Store Hotel & Motel Bar & Pub Grocery & Convenience Store Food Market Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Islamorada
    County
    Monroe
    State
    Florida
    Longitude
    -80.73092
    Latitude
    24.856817

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    FAQs

    What type of property is this?
    Multifamily property - Luxury multi-family compound with income potential in Lower Matecumbe, FL.
    Where is this multifamily property located?
    The property is located at 110 Gulfview Dr Islamorada, FL.
    What is the asking price?
    The asking price for this property is $3,524,000.
    What are key features of this property?
    This property features: - Rare multi-family compound featuring two 2BR/1BA residences upstairs and a separate 3BR/2BA downstairs.; - Waterfront property with a **70-foot concrete dock** offering easy access to bay and ocean, plus a transferable development right (TDR/TBR) valued at approximately $650K.; - **Strong income potential**, capable of generating $16,000+ per month in rental income when fully rented.
    (954) 234-5618
    Request Owner's contact information
    110 Gulfview Dr Islamorada, FL 33036
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    Islamorada, FL 33036
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    110 Gulfview Dr Islamorada, FL 33036
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    We can help!
    Listing Contact
    Karen V. Jenkins
    Real Estate License ID: 3395009
    (954) 234-5618 (888) 883-8509
    Learn more
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